Businesses that aspire to keep up with modern times need to utilize cryptocurrencies in one way or another. The easiest way to do it is to deploy crypto payments. Yet, there are also other options, including offering crypto to employees in the form of bonuses. Ethereum Classic is a cryptocurrency that fits the profile of a great bonus reward currency perfectly. ETC is quick, low-cost, and has considerable potential. Businesses interested in using ETC as a bonus currency can utilize NOWPayments to accelerate the process of paying our ETC bonuses.
- ETC is the native crypto of Ethereum Classic.
- ETC bonuses are quick, private, and borderless.
- Pay your employees ETC bonuses via NOWPayments.
What is Ethereum Classic?
Ethereum Classic emerged in 2016, following the hack of the DAO, one of the Ethereum network’s most notable initiatives. The situation caused a split in the Ethereum community. One group of users agreed to make changes to the network’s code, while the other group did not. As a result, the Ethereum network experienced a hard fork.
Ethereum Classic became the project that decided to stay faithful to the Ethereum roots, employing the original Proof-of-Work technology.
The ETC cryptocurrency combines the benefits of both ETH and BTC and presents itself as the ideal future Smart Contract Platform. The ETC coin possesses all of the fundamental characteristics of a great cryptocurrency. It is fungible, divisible, rare, portable, and has a predictable supply.
Why should I accept bonuses in ETC?
The speed of ETC coin transactions is one of its distinguishing aspects. Businesses can reduce the time it takes to send salaries and bonuses by using Ethereum Classic. The traditional solutions for making payouts may experience significant delays, causing great inconvenience to both businesses and their employees.
ETC is a universal solution that can be integrated by any company that wants to accelerate salary payouts. ETC transactions take no more than a couple of minutes, and bank transfers, which may take days. Thus, ETC bonuses can reach the receiving employees in an expedited manner.
Global money transfers made easy
Ethereum Classic is a decentralized network, so there are no authorities that could limit its operations based on geographic factors. Thus, ETC transactions can be sent from and to anywhere in the world at the same speed of several minutes. ETC is available to everyone who has an Internet connection.
Subsequently, businesses that have overseas employees or those that work with freelancers from foreign countries can use ETC as a simple solution for sending bonuses and salaries. Employees, in their turn, will be spared from the need to register a separate bank account, pay bank fees, and suffer from delays if they decide to accept ETC.
Ethereum Classic, like any blockchain on the market, is totally anonymous. It lets users send and receive ETC without revealing their identities. This helps conceal the financial info of organizations and employees. At the same time, the privacy level offered by ETC fits within regulatory frameworks and is legal. So, it is a safe option for sending bonuses to employees who do not like to share their personal data online.
It is convenient
Another good reason to accept bonuses in ETC is the level of convenience this coin offers compared to the standard methods. There are no forms to fill out or KYC procedures to undergo. Using ETC happens naturally. You simply install a wallet, generate your address and you are good to go.
The whole process takes no more than 5 minutes. You can then convert your ETC to any fiat or cryptocurrency using either centralized or decentralized exchanges anywhere in the world.
ETC bonuses and salaries are a sure way for companies to slash their fee costs. When sending employees their remunerations, businesses often face exorbitant bank fees. Yet, ETC can solve this problem and help companies bring down their expenses. ETC transactions usually cost less than a cent. This can enable both businesses and employees to save large sums of money on fees by simply switching to ETC as a means of salary and bonus payments.
So how do I pay out bonuses in ETC?
In order to send bonuses in the ETC crypto, you will need to use the Mass Payouts feature. Here is a guide on how you can enable NOWPayments’ Mass Payouts to send ETC coin salaries:
- First, you need to create a NOWPayments account.
- Then, go to the settings and generate an API key.
- Next, fill in a Mass Payouts form to request the Mass Payouts feature and send it. Please note that NOWPayments accepts all requests ONLY from your registration email for safety reasons.
- After you set up Mass Payments, deposit your cryptocurrency into your account.
- Go to the Custody section and click on the “Create Mass payout” button
- Upload the .csv file with the wallet addresses and the amount you want them to receive.
- Click “Proceed.”
- NOWPayments will send all these payments to the recipients automatically.
NOWPayments is a reliable service for sending salaries and bonuses in ETC that any company can use.
Learn more about Ethereum Classic
- Ethereum (ETH 2.0) and Ethereum Classic: which one is better for payments?
- Ethereum Classic payments via API
- Benefits of accepting Ethereum Classic on WooCommerce
- Fiat-to-Ethereum Classic payments
- Ethereum Classic (ETC) and e-commerce plugins
- Brick-and-mortar stores accepting Ethereum Classic (ETC)
- 5 ways to boost your business using Ethereum Classic
- Top 10 Ethereum Classic Influencers
- Why accept Ethereum Classic?
- What is Ethereum Classic?
- Ethereum vs. Ethereum Classic: What’s the difference?
- Benefits of donations in Ethereum Classic